LyondellBasell Industries (NYSE:LYB) Price Target Raised to $74.00

LyondellBasell Industries (NYSE:LYB) had its target price raised by Mizuho from $62.00 to $74.00 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

A number of other analysts have also weighed in on the stock. BMO Capital Markets raised shares of LyondellBasell Industries from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $38.00 to $68.00 in a research note on Thursday, March 5th. The Goldman Sachs Group reissued a “sell” rating on shares of LyondellBasell Industries in a research report on Monday, February 2nd. Fermium Researc upgraded shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, March 9th. Citigroup raised shares of LyondellBasell Industries from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $76.00 in a research report on Thursday, March 12th. Finally, Jefferies Financial Group increased their price objective on shares of LyondellBasell Industries from $51.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $65.61.

LyondellBasell Industries Trading Up 1.6%

LYB opened at $77.23 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.77 and a debt-to-equity ratio of 1.20. The stock’s fifty day moving average is $59.60 and its two-hundred day moving average is $51.24. The company has a market capitalization of $24.88 billion, a P/E ratio of -33.15, a PEG ratio of 0.42 and a beta of 0.64. LyondellBasell Industries has a 52 week low of $41.58 and a 52 week high of $77.37.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, January 30th. The specialty chemicals company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.44). LyondellBasell Industries had a positive return on equity of 4.93% and a negative net margin of 2.46%.The firm had revenue of $7.09 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. LyondellBasell Industries’s quarterly revenue was down 9.2% compared to the same quarter last year. Analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, March 2nd. LyondellBasell Industries’s payout ratio is -118.45%.

Insider Buying and Selling

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the completion of the sale, the insider directly owned 5,270,918 shares of the company’s stock, valued at approximately $359,107,643.34. This represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LYB. Woodline Partners LP boosted its stake in LyondellBasell Industries by 40.4% in the first quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company’s stock valued at $1,542,000 after acquiring an additional 6,297 shares in the last quarter. Focus Partners Wealth increased its position in shares of LyondellBasell Industries by 35.4% during the first quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company’s stock worth $483,000 after purchasing an additional 1,796 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of LyondellBasell Industries by 62.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 42,321 shares of the specialty chemicals company’s stock valued at $2,583,000 after purchasing an additional 16,234 shares during the last quarter. Prudential PLC lifted its holdings in shares of LyondellBasell Industries by 188.6% during the 2nd quarter. Prudential PLC now owns 9,204 shares of the specialty chemicals company’s stock valued at $533,000 after purchasing an additional 6,015 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of LyondellBasell Industries by 6.7% in the 2nd quarter. Swiss National Bank now owns 782,100 shares of the specialty chemicals company’s stock worth $45,252,000 after purchasing an additional 49,400 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.